KUCHING: The Sarawak State Ownership Policy aims to safeguard state assets and ensure public wealth managed by State-Owned Enterprises (SOEs) is handled transparently and responsibly.
Having explained this, Kota Sentosa assemblyman Wilfred Yap voiced strong support for the policy, which will be tabled during the State Legislative Assembly (DUN) sitting in November.
“The policy aims not only to safeguard state assets but also to establish a governance framework that ensures public wealth managed by SOEs is handled prudently, transparently, and with long-term value creation in mind.
“The policy demonstrates Sarawak’s commitment to international best practices, developed in collaboration with the World Bank under the Sarawak Public Financial Management Transformation Programme, highlighting the emphasis on board professionalism, financial transparency, and integrity frameworks as key steps in embedding accountability into the state’s economic institutions,” he said in a statement today (Oct 4).
Yap also commended Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg’s call for Results-Based Budgeting, a system linking expenditure directly to measurable outcomes.
“This approach ensures that when funds are allocated, Sarawakians can expect real, tangible results, whether in the timely completion of projects such as Sarawak Metro or the effective delivery of basic services,” he said.
He stressed that the policy’s impact depends on strong legal and institutional backing, urging the august House to ensure it is supported by enforceable legislation, harmonised with existing statutes governing SOEs, and strengthened to prevent mismanagement or inefficiency.
“With the right legal architecture and consistent political will, this policy can position Sarawak at the forefront of good governance in Malaysia,” Yap said, calling on all to support reforms that promote transparency, accountability, and efficiency.
He added that he looks forward to contributing to the debate in November, ensuring the policy secures the state’s economic future while setting a benchmark for governance nationwide.
